Jamie Crawley is a CoinDesk news reporter based in London.
BTC had retreated from its brief rally to $61,000 on Tuesday, trading at around $59,350, a fall of nearly 2.5% over 24 hours. The U.S. Bureau of Labor Statistics is set to publish a data revision that some observers expect to show job growth in the year to March was slower than previously estimated.
Mt. Gox-related selling pressure may also be rearing its head after a wallet associated with the defunct exchange moved $784 million CryptoQuant's demand indicator, which tracks the difference between the daily total bitcoin block rewards and the daily change in the number of bitcoin, has not moved in a year or more. Inflows to spot bitcoin ETFs have also waned from a monthly pace of 6% in March to just 1% now, CryptoQuant has said. Still, a few metrics have remained strong.
These investors' share of total assets under management of bitcoin ETFs grew to 21.15% from 18.74%, Bitwise said, adding that institutions ended the quarter holding $11 billion in BTC ETFs. This took place amid a 12% slide in the price of bitcoin during the quarter. Bitwise noted criticism that bitcoin ETFs are predominantly owned by retail investors, an assertion it says is simply untrue.
in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.
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